Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
